Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies

Summary of the activity of the Company's deferred revenue

The following is a summary of the activity of the Company’s deferred revenue related to product and service revenue (in thousands):

	Six Months Ended June 30,
	2022		2021
Balances at beginning of period	$	14,521	$	8,938
Recognition of revenue included in balance at beginning of the period		(2,494)		(1,211)
Revenue deferred during the period, net of revenue recognized		3,863		1,984
Balances at end of period	$	15,890	$	9,711

Schedule of deferred revenue amounts expected to be recognized in the future

The amount of deferred revenue equals the transaction price allocated to unfulfilled performance obligations for the period presented. Such deferred revenue amounts related to product and service revenue are expected to be recognized in the future as follows (in thousands):

	June 30,
	2022		2021
Deferred revenue expected to be recognized in:
One year or less	$	6,753	$	3,965
One to two years		4,204		2,001
Three years and beyond		4,933		3,745
	$	15,890	$	9,711

Schedule of disaggregation of revenue

The Company’s product and service revenue consists of sales of devices and consumables and the sale of service and extended warranty plans. The following table presents the Company’s revenue by revenue stream (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Product and service revenue:
Device sales revenue	$	7,755	$	6,181	$	13,287	$	10,092
Consumables and service revenue		2,853		1,734		5,350		3,180
Total product and service revenue		10,608		7,915		18,637		13,272
License and contract revenue		498		362		775		548
Total revenue	$	11,106	$	8,277	$	19,412	$	13,820

The following table presents the Company’s product and service revenue by device type (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Handheld	$	6,938	$	5,278	$	11,408	$	8,518
Desktop		3,670		2,637		7,229		4,754
Total product and service revenue	$	10,608	$	7,915	$	18,637	$	13,272

Revenue based on the end-user entity type for the Company’s product and service revenue are presented below (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Government	$	7,002	$	5,279	$	11,719	$	8,513
Pharmaceutical/Biotechnology		3,577		2,609		6,705		4,709
Academia		29		27		213		50
Total product and service revenue	$	10,608	$	7,915	$	18,637	$	13,272

The following table disaggregates the Company’s revenue from contracts with customers by geography, which are determined based on the customer location (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Americas	$	9,470	$	5,815	$	15,538	$	10,489
Europe, Middle East and Africa		1,245		1,725		2,601		2,171
Asia Pacific		391		737		1,273		1,160
	$	11,106	$	8,277	$	19,412	$	13,820